Bullshit. The price increase brings in normies, the price drop forms Bitcoiners. Almost everyone comes for the gains and stays for the technology/sovereignty/...


👀

"Der erste Schluck aus dem Glas der Wissenschaft macht Sie zu einem Atheisten, aber Gott wartet auf Sie am Boden des Glases."

Werner Heisenberg

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GM Nostr. 🌞

I'm trying something new. I'm trying to stop thinking or saying aloud that I'm busy (in any form). Hear me out...

We're all busy. There are always more things we want to achieve in a day than we have hours for. And this is a good thing. It makes us prioritize. It gives those hours real value. Like Bitcoin, you can't print more hours.

Telling yourself (and others) that you're busy is a mental cop out, it's a way of trying to make yourself feel better about what you're not doing while also signaling that you're important in some way.

My new mantra is that I have exactly the right number of hours to do the things that are most important to me. It's just up to me to prioritize those things correctly.


1. People prefer 10 comfortable lies to 1 uncomfortable truth.

I'll try to explain why and what might follow from this and a few more insights:

2. Ideas that feel comfortable release dopamine when you think of them, while ideas that feel uncomfortable release cortisol.

3. Actions that follows from these ideas typically produce the opposite results.

a) actions that ignore false beliefs release cortisol.

b) actions that respect truth release dopamine.

4. The reason for No 3 a) and b) is that economic, social and natural laws punish you for ignoring false beliefs, while they reward you for respecting truth.

5. Although people aren't concious about these principles, they aren't stupid.

6. The way people adjust, however, is that they stick to thinking about their comfortable lies without implementing them as actions - they become passive.

7. Passivity is amplified when people have high time preference*.

8. When people suffer from inflation they get high time preference, meaning they are more likely to stick to the comfortable lies and become passive.

9. The few who benefit from inflation (the Cantillionaires**) get low time preference, meaning they are more likely to take action.

10. Because passivity results in a lack of learning, while activity stimulates learning, the gap between those who suffer from inflation and those who benefit from it widens.

Feel free to discuss.
---

*A person who heavily prefers current consumption to future consumption has a high time preference as he places a heavy premium upon satisfaction as soon as possible. By contrast, a person who does not place a heavy premium upon instant satisfaction has a low time preference

** A "Cantillionaire" is a term used to describe individuals who gain wealth through the "Cantillon Effect," which refers to the uneven impact of inflation on different parts of the economy. This effect benefits those closest to the source of new money, often central banks and their associates, who can spend before prices rise, thereby gaining financial advantages. The term highlights the perceived unfairness in the fiat monetary system where these individuals accumulate wealth not by creating value but by exploiting monetary policy.


#Bitcoin paradox #1 : the deeper you go in the rabbit hole, the more you realize why few understand this.


Life in general has never been even close to fair, so the pretense that the government can make it fair is a valuable and inexhaustible asset to politicians who want to expand government.
-
Thomas Sowell


#Bitcoin

https://m.primal.net/IEWv.jpg


*If LoTR took place in 2024*

Frodo: We must destroy the fiat money printer for the good of Middle Earth.

Aragorn: You have my sword. Laser eyes till fiat dies.

Legolas: And you have my node.

Gimli: And my Bitaxe.

Boromir: But what if we use fiat for good? We could print trillions and hand it out to Gondor citizens as UBI.

Gollum: Give the precious fiat printer to me. It’s my birthday, and I wants it!

Sam: Gollum is NGMI. I see the way he looks at JPow during FOMC meetings.

Frodo: It’s not his fault, Sam. He’s suffering from fiat stockholm syndrome.

Gandalf: Sauron is forging unrealized capital gains taxes in Mordor. I must go to Minas Tirith to read the manuscripts of Lyn Alden to see how this impacts our quest to destroy fiat.

Saruman: We cannot destroy fiat. We must join it. I’m building an army of VC-backed scamcoiners at Orthanc…

Pippin: HFSP, Saruman. We’ll be enjoying some well-deserved ribeyes and Peony Lane. https://image.nostr.build/93f71eb661b1328e8c8bcec82531c8f9c248da5383f133c3c90ccad7457e7677.jpg


The internet gave everyone access to information. #bitcoin gives everyone access to saving.


Be idealistic in creating and casting your vision. Be pragmatic in the process of executing it.


GM

Great minds discuss ideas;
average minds discuss events;
small minds discuss people.

Pick your crew wisely.


It all depends on the probabilities you assign to those two binary outcomes. If you say it either wins or loses (50/50 or close to) then yes, it's the most asymmetric bet in human history. I also live in this camp.


Future grandchild: “Grandpa, why did Bitcoin fail?”

Me: “Well, my child, you see, Bitcoin’s ultimate success required lots of people being responsible for a password and that was just WAY too difficult for the Baby Boomers.”

Future grandchild: “Why didn’t they just ask your generation help them?”

Me: “well, because the Baby Boomers trusted multinational, publicly-traded corporations more than their own children.”

Future grandchild: “Didn’t they realize from all the abundant evidence that multinational, publicly-traded corporations did not have their best interests at heart?”

Me: “Well unless it was reported by news channels owned by the multinational, publicly-traded corporations, the Baby Boomers would never believe it.”

Future grandchild: “Why did the Baby Boomers matter so much any way?”

Me: “They had accumulated a historically extreme amount of society’s capital.”

Future grandchild: “Now, how did they do that?”

Me: “By buying stock in multinational, publicly traded corporations.”


You can ignore #Bitcoin, but you cannot ignore the consequences of ignoring Bitcoin.


Honey ₿adger ⚡

Honey Badger Don't Care. Bitcoin. ₿ humble.
Progressive libertarian. There is no second best.